(CNSNews.com) - There was a net decline of 406,000 in the number of Americans age 25 or older with a bachelors degree or higher who were working in the United States in June, according to the Bureau of Labor Statistics.

A net of 309,000 in this demographic simply dropped out of the labor force, which means they neither had a job in June nor actively tried to find one, according to BLS.

The number of Americans age 25 or older with a bachelors degree or higher who were unemployedmeaning they did not have a job but did actively try to find oneincreased by 96,000 in June.

According to the new seasonally adjusted numbers that BLS released on Friday, there were 46,355,000 Americans age 25 or older with a bachelors degree or higher who held jobs in May. In June, that number fell to 45,949,000a decline of 406,000.

In May, according to BLS, there had been 48,232,000 Americans with a bachelors degree or higher who were in the labor forcemeaning that they either had a job or were actively seeking one. However, in June, that number fell to 47,923,000meaning a net of 309,000 college-educated Americans age 25 or older had left the labor force in and were no longer even seeking a job.

From May to June, the number of college grads who were counted as unemployedmeaning they did not have a job but had tried to get one in the past monthclimbed by 96,000, from 1,877,000 in May to 1,973,000 in June.

According to the Census Bureau, there has been a dramatic increase over the past four decades in the percentage of Americans who attain college degrees. In 1970, according to the Census Bureau, only 10.7 percent of Americans age 25 or older had a bachelors degree or higher. In 2010, 29.9 percent of Americans age 25 or older had a bachelors degree or higher.

The unemployment rate among college graduates increased in June, but still remained lower than 8.2 percent unemployment rate among the overall population. In May, the unemployment rate was 3.9 percent among Americans age 25 or older with a bachelors degree or higher. In June, it rose to 4.1 percent.

‘From May to June, the number of college grads who were counted as unemployedmeaning they did not have a job but had tried to get one in the past monthclimbed by 96,000, from 1,877,000 in May to 1,973,000 in June.’

To put that into perspective: That is more people than live in the cities of Columbus, OH, Cleveland, OH, Toledo, OH, Akron, OH, and Cincinnati OH; COMBINED!

WOW! Think about that!

5
posted on 07/09/2012 4:32:41 PM PDT
by Jim from C-Town
(The government is rarely benevolent, often malevolent and never benign!)

Thanks. I scanned through their description of how they arrive at their benchmarks, which is by surveying employers and comparing the results.

The number of Americans age 25 or older with a bachelors degree or higher who were unemployedmeaning they did not have a job but did actively try to find oneincreased by 96,000 in June.

How do they know you are "actively trying to find work"?

In May, according to BLS, there had been 48,232,000 Americans with a bachelors degree or higher who were in the labor forcemeaning that they either had a job or were actively seeking one. However, in June, that number fell to 47,923,000meaning a net of 309,000 college-educated Americans age 25 or older had left the labor force in and were no longer even seeking a job.

Again, how do they know you have "left the work force" or are "no longer even seeking a job"?

That is based on people qualifying for unemployment. If you don't qualify, you don't count. If your benefits have run out, you have "left the work force".

There seem to be a couple of different ways by which they measure unemployment. The estimate you referenced seems to generate a delta from month to month. The overall unemployment figures seem to be based on qualifying for unemployment. The estimate of change is probably pretty accurate. The overall unemployment, which would not count people who graduated and can't find work, or stops counting people who have been off for more than a year, seems pretty bogus to me.

I would suggest to anyone with a bachelor's degree who can't find a job, to invest just 15 more semester hours at a junior college to become a certified C.N.C. operator, the demand is still out there and I'd bet employers would hire a qualified operator with a degree rather quickly.

It's work, you'd better know math, some geometry and trig but it pays well. I retired in 1999 at $24 per hour and all the over time I could stomach.

It's not a desk job and you might get dirty from time to time, alternatively, you can sit around and moan about not having a job in your area of expertise.

People make a mistake when they think a college degree entitles them to a job in the area they studied. In some cases, like engineering, thats true. For many other areas, though, its a mistaken expectation.

For me, the purpose of a college education is the education itself. So, get your education, then get a job out on the shop floor and learn your trade. If you're smart, and work hard, in ten or twenty years you'll be running the place, or you'll have opened your own business.

I'm all in favor of liberal-arts degrees as preparation for life. Just plan on getting a real job when you get out, and don't be afraid to get your hands dirty.

Gotta brag here. My oldest daughter earned her Master’s Degree in June 2011 from the University of British Columbia. It didn’t take her long to land contract work at the huge transit agency in Vancouver. She’s been looking for full-time work for a while, got a call last Monday, an interview on Wednesday, a job offer on Friday and she tendered her resignation today to take the new job. She’s moving up to Whistler in the next couple weeks. She’s a go-getter, has studied in four countries (including the US), has been working since 14, and isn’t afraid to take any type of work to get started. She really has it together. It may be tough these days and you may not immediately land your dream job, but you can do it with humility, perseverance, good old-fashioned hard work and a can-do attitude.

Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.